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Canadian Solar signed a $40m, three-tranche
agreement with Harvest North Star Capital to fund the Japanese ground-mount
projects, with 40-50MW of the total expected to begin construction in the first
half of 2014.

CEO Shawn Qu said: “This loan agreement
demonstrates that we are on track to execute on our Japanese solar project
pipeline, consolidate our position as a leading solar energy solutions provider
on a global basis, and extend the visibility into our business results well
into the future."

Canadian Solar separately announced that it
will deliver 8.7MW of its MaxPower CS6X modules to developer EOSOL Mexico for a
ground-mount project in Durango – the country’s second-biggest PV project yet,
according to the supplier.

The delivery will equip the first phase of a
planned 200MW project, with the initial megawatts due to come online early next
year.

Canadian Solar does the majority of its manufacturing in China, and was one of a handful of the country's PV heavyweights to swing back into profitability in the third quarter of 2013.